Saturday, September 21, 2019

Mortgage Burning!

 

 

On Sunday, February 24th the community of Holiday Manor Co-op celebrated their debt retirement with a symbolic mortgage burning in front of their Recreation Hall. Holiday Manor Co-op is a senior retirement enclave located on Collier Blvd just south of US-41. The 312 unit community was purchased from the Cavin family in 1996, for six million dollars. The mortgage was retired in 2012 after the present Board of Directors (pictured above), lead by Lynn Rickert (second from left above), that it would be advantageous to pay off the mortgage three years early. Some of the original shareholders are still enjoying their winters there and some, along with approximately 30 other residents, enjoy their homes on a permanent basis.

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